Blowout quarter at Jefferies
Jefferies reported a whopping 59 percent gain in first-quarter profits. In the first quarter, the firm earned 82 cents a share, easily trouncing the average estimate of 64 cents a share. Like other investment banking outfits, proprietary trading was the key. Total revenue from trading-related activities rose 116 percent to $156 million. The trend is in force apparently at even some of the mid-tier firms.
> Here's an article from TheStreet.com.
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